Reuters | Latest Financial News / Full News Coverage: "Thu October 16, 2003 04:42 PM ET
SAN FRANCISCO (Reuters) - Chip maker Advanced Micro Devices Inc. AMD.N on Thursday surpassed analyst expectations in posting a sharply narrower third-quarter net loss on increased demand for microprocessors and for flash-memory used in cell phones and other consumer devices.
The company posted a net loss of $31 million, or 9 cents a share, compared with a net loss of $254.2 million, or 74 cents a share a year earlier.
Sales were $954 million, compared with $508.2 million a year ago, the Sunnyvale, California-based company said.
Analysts, on average, expected the company to post sales of $866.9 million and a net loss of 36 cents a share, according to Reuters Research, a unit of Reuters Group Plc.
AMD had said it expected sales to rise from the $645 million in the second quarter.
Shares of AMD closed at $13.96, up 2 percent on the New York Stock Exchange."
Thursday, October 16, 2003
AMD Loss Narrows, Beats Expectations
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